China Vanke's Executive Vice President Resigns Amid Debt Crisis
By Jiahui Huang
Chinese Vanke said its executive vice president has resigned after reaching retirement age, marking the departure of a long-serving executive at one of China's largest property developers.
The company said in a filing with the Shenzhen Stock Exchange late Thursday that Yu Liang submitted a written resignation and no longer holds any position at China Vanke.
Yu's resignation will not cause the number of board members to fall below the legal requirements and will not affect the company's normal operations or those of its board, the filing said.
Yu became chairman of the board in 2017 and he has overseen the company through the boom and subsequent downturn in China's property sector. Once among the country's largest and most influential developers, Vanke has faced mounting challenges since the sector entered a prolonged slump in 2021.
Despite the pressures, Vanke has long been viewed as one of China's more financially resilient developers and remains among the few major players that have yet to default during the property crisis.
Still, investor confidence has been tested.
In November, the company said that it was seeking to delay repayment of principal on a 2 billion yuan medium-term note due December 15, 2025.
The developer continues to work to renegotiate its debt obligations, the filing said.
Write to Jiahui Huang at jiahui.huang@wsj.com
(END) Dow Jones Newswires
January 08, 2026 21:42 ET (02:42 GMT)
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